Industrial New Product Development Strategy Applied to an Insect Protein Startup in Southeast Asia

Details

Supervisors

Christophe Lejeune

Faculty

Louvain School of Management

Degree label

Master [120] en sciences de gestion, à finalité spécialisée

Abstract

Insect protein producers have recently started proliferating in many parts of the world. Their emergence coincides with an increase in global meat consumption and other environmental issues. In this article, we consider the case of a vietnam-based insect protein firm founded in 2013 by two Belgian alumni. Its goal: to close the loop in global food systems by upcycling wastes into nutritious ingredients using black soldier fly larvae. After 6 years, they were able to secure enough funding to build an industrial insect protein plant rivaling global market leaders. This helped them secure $30 million of additional funding in 2022 to begin planning their international expansion by constructing the largest insect protein plant in the world, capable of producing 10,000 metric tons of protein yearly. If the company is capable of delivering on its promise and complete construction by 2023, it will position itself as the uncontested leader of the insect protein industry. This thesis is organized as a practical study of Entobel’s product development strategy in preparation for their future global expansion. It addresses three separate questions related to the competitive intensity of the international insect protein market, Entobel’s differentiation and positioning strategy, as well as its new product development strategy. Finally, three new product development projects are suggested to help Entobel maintain and develop its long-term competitive position in the industry.